cash portfolio

official photo

DOVER, Del. (AP) - A state legislative committee is reconvening to begin its review of the board that oversees Delaware's $2 billion cash portfolio.

Members of the Joint Sunset Committee were forced to postpone a hearing on the Cash Management Portfolio Board last month after the board chairman failed to appear.

offcial photo

DOVER, Del. (AP) - State lawmakers are resurrecting a bill stating that Delaware's treasurer has no direct control over the state's $2 billion cash management portfolio.

The bill, which was quickly tabled after being introduced last year, is scheduled for a Senate committee hearing next week.

Consideration of the legislation comes after the attorney general's office ruled in November that the Cash Management Policy Board has sole legal authority to make investment decisions regarding the portfolio, and that the treasurer is subject to its directives.